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The Short Version: Since 2017, ChronoBank has disrupted many industries with its blockchain-driven recruitment and hiring solutions, and the dating industry could be next. In a shortly following update for LaborX, matchmakers, dating coaches, and other professionals can use ChronoBank’s LaborX platform to seek and hire qualified job candidates who are looking for freelance, part-time, and full-time employment opportunities. ChronoBank optimizes the hiring, payroll, and workflow processes, so users won’t run into hiccups as they work together to get the job done.
The dating industry has thrived in the last decade because of forward-thinking professionals who are willing to change their business strategies, adapt to the times, and embrace new technology.
Think about it: Just a few years ago, the job “online dating coach” wouldn’t be viewed as much of a moneymaker. Now online dating is one of the most popular ways to meet a spouse, and most matchmakers include online dating assistance or profile editing services as a supplement to their in-person coaching.
Dating site owners, too, have braved new frontiers by creating niche products that resonate with singles and inspire online communities. In the U.S. alone, over 1,000 online dating services launch each year, and the domestic dating industry has grown to be worth over $2.5 billion.
Professionals in the dating industry have to deal with many never-before-seen challenges, including Facebook Dating, but they can also benefit from some up-and-coming solutions that can bring new talent where it’s needed the most.
In 2017, ChronoBank began using blockchain technology to make employment opportunities more accessible and recruitment efforts more successful. The company built a peer-to-marketing labor ecosystem where everyone could come out ahead. Soon, employers will be able to use ChronoBank’s LaborX platform to search for qualified job candidates, while skilled professionals can create a portfolio and apply for jobs that suit them.
Today, ChronoBank has attracted nearly 3,000 contributors, partnered with 15 technology companies, and is establishing a stable, labor-based cryptocurrency that builds trust between employers and employees around the world.
We talked to Florenz Brunner, who’s head of community and press relations at ChronoBank, about the yet-untapped potential its services and products have to change the way dating professionals hire help. Florenz said, “ChronoBank supports a blockchain-based labor ecosystem that connects employers and employees from any industry, solving many problems the modern HR and freelance sector is facing.”
ChronoBank’s premier product is LaborX, an open-source and decentralized marketplace for freelancers, professionals, and companies. Anyone can sell their labor time on the platform, and employers can sort through an extensive database of profiles to find the ideal candidate.
The employer hires help directly and then pays its new employee(s) through ChronoBank’s user-friendly system. The platform will soon convert currency to Labor-Hour tokens, which is a stable cryptocurrency that represents real-time labor. LHT is in development and will be add to LaborX in one of the next updates. The current version focuses on payments in ETH.
LH tokens offer protection from inflation because they reflect the national average of hourly wages — not random dips and spikes in the global economy. This simple, time-based money facilitates more value-driven interactions between employers and employees. LaborX only takes a 1% commission for its help as a veritable employment matchmaker.
LaborX assists with job matching, invoicing, and contracting, and it ensures that employers have access to a quality pool of candidates, and job seekers have the opportunity to thrive in today’s gig economy.
LaborX fosters direct employer-employee communication and payroll on its platform, so the hiring process runs faster and easier for everyone involved. Under this user-driven system, there’s no middle man between employers and job seekers.
The LaborX platform streamlines the hiring process from start to finish. Job seekers can make themselves stand out by adding their work histories, basic information, and social network contacts to their profiles. Artists and designers can even upload a portfolio, if they like. Once the profile is complete, LaborX uses its matching technology to connect job seekers with the right job opportunities posted by employers.
On the flip side of the coin, the employer can use LaborX to look for specific types of workers who meet their criteria in terms of education level, experience, and job skills. For instance, matchmakers can search for employees with backgrounds in customer relations, event planning, or headhunting, and they can identify the most qualified candidates that way.
Dating site owners, app developers, and other self-starters can use LaborX to find freelancers who have stellar resumés, relevant qualifications, and years of experience in the tech industry. That can be a game changer for companies seeking to build out their services in a fast-changing industry.
LaborX currently offers a beta product, but the minimum viable product (MVP )version of LaborX is expected to be released to the public in September 2019.
“All transactions on LaborX are being facilitated using ChronoBank’s in-house cryptocurrency payment processing service,” explained Florenz. “LaborX’s most recent update added a Digital Contracts function, which allows employers to create detailed job descriptions and task allocation.”
In addition to its employment platform, ChronoBank has developed high-tech tools that support an efficient and transparent workflow and payment system for its users. Its TimeX and ChronoWallet platforms have facilitated financial transactions in a consumer-friendly interface.
In March 2019, ChronoBank launched TimeX to improve the cryptocurrency sector by changing its exchange system. The team created a decentralized, peer-to-peer cryptocurrency exchange that was fast, secure, and private.
Thanks to TimeX, users could conduct crypto exchanges on their own terms. For instance, if an employer paid for a job in Labor Hour tokens, the user could go into TimeX and exchange it for Bitcoin, Ethereum, EOS, and other currencies. Because TimeX runs on a decentralized system, it is safe from hackers and can offer users the flexibility they need to turn a profit.
The ChronoWallet, a multi-cryptocurrency wallet, can store the user’s money and facilitate the exchange of multiple types of cryptocurrency. The ChronoWallet is currently the only platform on the market that supports any ERC20 token transfers, and the team plans to add more currencies in the coming months. ChronoWallet is currently available for download on Google Play, where it has a 3.9 star rating.
Thousands of people have jumped on board ChronoBank’s train and used its solutions to make the cryptocurrency space more accessible to anyone who wants a piece of the action.
Within the next few months, you can use the LaborX platform’s open-ended hiring system to find anything from short-term labor to long-term employees. Whether you’re seeking an office assistant or a dating coach, you can use ChronoBank’s streamlined system to hire someone who meets your criteria.
The dating industry serves a fast-changing marketplace of singles, and it’s important that companies stay versatile and look for ways to give their brands an edge in this environment. With its blockchain technology, ChronoBank can offer dating professionals the opportunity to hire employees in a more selective and effective manner, so they can drive their companies into the future.
“It is both invigorating and exciting to be part of the blockchain revolution,” said Sergei Sergienko, CEO of ChronoBank. “Traditional ways of doing things are fast becoming obsolete, including the way we work and earn a living.”